the following information is provided for a company. accounts payable $16,500 buildings 81,500 cash 12,000…

the following information is provided for a company. accounts payable $16,500 buildings 81,500 cash 12,000 accounts receivable 11,000 salaries payable 6,000 retained earnings 53,500 supplies 41,500 notes payable (due in 18 months) 36,500 interest payable 4,500 common stock 36,500 what is the amount of current assets, assuming the accounts above reflect normal activity? multiple choice $182,500 $23,000 $64,500

the following information is provided for a company. accounts payable $16,500 buildings 81,500 cash 12,000 accounts receivable 11,000 salaries payable 6,000 retained earnings 53,500 supplies 41,500 notes payable (due in 18 months) 36,500 interest payable 4,500 common stock 36,500 what is the amount of current assets, assuming the accounts above reflect normal activity? multiple choice $182,500 $23,000 $64,500

Answer

Explanation:

Step1: Identify current - asset accounts

Current assets include cash, accounts receivable, and supplies.

Step2: Calculate sum of current assets

Cash = $12,000, Accounts receivable = $11,000, Supplies = $41,500. Sum = $12,000 + $11,000 + $41,500=$64,500

Answer:

$64,500